AmeriCredit Announces $1.2 Billion Asset-Backed Securitization.

Business Editors

FORT WORTH, Texas--(BUSINESS WIRE)--May 31, 2002

AMERICREDIT CORP. (NYSE:ACF) announced the pricing of a $1.2 billion offering of automobile receivables-backed securities through lead managers Merrill Lynch & Co. and J.P. Morgan Securities Inc. and co-managers Banc One Capital Markets, Inc., Credit Suisse First Boston, Morgan Stanley and Wachovia Securities. The company uses proceeds from securitization transactions to provide long-term financing of automobile retail installment contracts.

This transaction is similar to the company's 2002-A securitization and employs a combination of bond insurance, overcollateralizaton and a reserve fund to support the ratings. The securities will be issued via an owner trust, AmeriCredit Automobile Receivables Trust 2002-B, in four classes of Notes:

Note Class           Amount   Average Life       Price   Interest Rate
----------           ------   ------------       -----   -------------
   A-1       $  205,000,000    0.32 years     100.0000           1.91%
   A-2          353,000,000    0.95 years      99.9967           2.71%
   A-3          325,000,000    2.05 years      99.9921           3.78%
   A-4          317,000,000    3.37 years      99.9960           4.46%
                -----------
             $1,200,000,000

The weighted average coupon paid by AmeriCredit is 3.9%.

The Note Classes are rated by Standard & Poor's, Moody's Investors Service, Inc. and Fitch, Inc. The ratings by Note Class are:

Note Class       Standard & Poor's            Moody's           Fitch
----------       -----------------            -------           -----
   A-1                A-1+                    Prime-1            F-1+
   A-2                 AAA                        Aaa             AAA
   A-3                 AAA                        Aaa             AAA
   A-4                 AAA                        Aaa             AAA

This transaction represents AmeriCredit's 33rd securitization of automobile receivables in which a total of more than $24 billion of automobile receivables-backed securities has been issued.

AmeriCredit Corp. (NYSE:ACF) is the largest independent middle-market auto finance company in North America. Using its branch network and strategic alliances with auto groups and banks, the company purchases installment contracts made by auto dealers to consumers who are typically unable to obtain financing from traditional sources. AmeriCredit has more than one million customers throughout the United States and Canada and more than $13 billion in managed auto receivables. The company was founded in 1992 and is headquartered in Fort Worth, Texas. For more information, visit www.americredit.com.